CTXS - Wall Street Doesn't Like These 2 Deals and Shareholders Are Paying the Price Monday
The stock market's turbulence in January has been gut-wrenching, and investors came into the new week hoping that Friday's substantial bounce might mark the beginning of a calmer period for stocks. Unfortunately, that doesn't appear to be the case, with premarket trading suggesting a further move downward for major market benchmarks. As of 8:15 a.m. ET, futures on the Dow Jones Industrial Average (DJINDICES: ^DJI) were down 207 points to 34,388. S&P 500 (SNPINDEX: ^GSPC) futures had dropped 19 points to 4,404, and Nasdaq Composite (NASDAQINDEX: ^IXIC) futures had fallen 4 points to 14,429.
Companies are struggling to compete effectively under tough conditions in many industries, and that has inspired many of them to consider strategic moves that have a big impact on investors. Unfortunately, not every decision companies make gets a warm reception from shareholders. On Monday morning, shares of BlackBerry (NYSE: BB) and Citrix Systems (NASDAQ: CTXS) both fell in the wake of strategic moves the two companies appear to be pursuing. You'll find the details below.
Shares of BlackBerry fell more than 5% on Monday morning. Shareholders reacted negatively to the company's decision to sell off some of the intellectual property that helped make it a pioneer in the mobile device revolution nearly 20 years ago.
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Wall Street Doesn't Like These 2 Deals, and Shareholders Are Paying the Price Monday